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Perennial second-banana in the world of soft drinks, PepsiCo (NYSE: PEP), continues to look like a solid momentum name with bullish potential. Earlier today, the company affirmed that it is on track to match earlier projections for its full-year earnings figures.

For fiscal 2007, PepsiCo officials expect to bank at least $3.39 per share (implying actual results could be north of this estimate). Excluding items related to restructuring and a third-quarter tax settlement, PepsiCo will earn $3.35 per share, a shade below analysts' expectations of $3.38 per share.

The company also reiterated its fiscal 2007 cash flow estimate of at least $7 billion from operating activities, roughly $2.6 billion in capital spending, and $4.3 billion worth of stock buybacks.

The stock has been in the news of late. Last week, the company announced a restructuring that will separate the firm into three units: food in the U.S.; drinks in the U.S.; and food and drinks internationally. PepsiCo is the parent of the Frito-Lay and Quaker brands.

Its shares are flat in pre-market activity today after gaining nearly 1.1% yesterday.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

PepsiCo reiterates earnings outlook originally appeared on BloggingStocks on Wed, 14 Nov 2007 10:10:00 EST. Please see our terms for use of feeds.

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